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9/2/10

Quote of the Day: Michael Boskin

If we can keep it...

The Obama administration's "summer of recovery" has morphed into a summer of economic discontent and anxiety over a weakening economy.


[Not] surprisingly, the left is frantically calling for a second "stimulus" and demanding tax hikes for the "rich" - aka our most productive citizens and small businesses. The rehashed ideas include such nonsense as massive infrastructure financed by a national infrastructure bank, an old Carter idea; yet more aid to the states; and even that worst of ideas, "general revenue sharing," which would force citizens to pay future federal taxes to fund the debt used just to send revenue back to the states.


These ideas would do a lot more harm than good. To paraphrase Benjamin Franklin, we have the best economic system among the advanced economies, "if we can keep it." That will require fundamental policy changes, not doubling down on the failed big government experiment of recent years.

Michael Boskin
"Summer of Economic Discontent"
WSJ 09/01/10